According to Mekuria, the construction activities have created 193,241 jobs.

Moreover, preparations have been finalized to begin a new housing development project dubbed 40/60 meant to benefit low income residents in urban areas.

In the 40/60 project, someone is expected to save 40 per cent of the total cost of the house with in five years, while the remaining 60 per cent would be covered by a loan from Commercial Bank of Ethiopia.

He said the construction of 10,000 houses will be commenced in Addis Ababa in this Ethiopian budget year and will be extended to regional states.